Export prices for flat steel from the Commonwealth of Independent States went down on Monday October 22 on weak demand in the key outlet regions.
Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) went down to $517-523 per tonne fob Black Sea on October 22, from $520-530 per tonne fob Black Sea a week earlier."Weak Chinese prices [for HRC] are not the reason for the decline in the global market; weak demand and oversupply in the global market are the initial reasons for the decline," one trader told Fastmarkets.Fastmarkets' daily index for HRC exports from China was $544.38 per tonne fob on October 22, down by $5 per tonne day on...